Stratagem Group Plc, the London EC2-based investment company that pipped Ferrari Holdings Plc at the post with its UKP8m bid for the cash-rich Touchstone Group Plc in February (CI No 1,618), has turned in pre-tax profits of UKP18,000 for the six months to February 28, against UKP229,000 losses. Stratagem Group’s interests couldn’t be more diverse – Touchstone is now owned alongside Gavel Securities Ltd, a laser sailing dinghy and catamaran manufacturer which turned in considerable losses for the six months. While it was believed that Stratagem’s relationship with Touchstone would be strictly at arm’s length, the holding company now says it is taking necessary steps to cut the heavy overheads within the company, and proposes to restore its core computer maintenance arm, Firstpoint.
